HK-listed CStone jumps most in over 1-1/2 years on robust results forecast

CStone Pharmaceuticals

03/02/2023 03:15

** Shares of immuno-oncology drugs developer CStone
Pharmaceuticals  2616.HK  jump as much as 17.4% to HK$6.22, and
on course for the biggest daily pct rise since June 2021 if
gains hold
    ** Stock hits the highest since March 3, 2022 on the fifth
straight sessions of gain; biggest pct gainer in the Hang Seng
Composite Index  .HSCI  
    ** Shanghai-based company expects its 2022 revenue to double
to about 475 mln yuan ($70.41 million) as compared to 2021 with
loss for the year to reduce to 800 mln yuan from 1.7 bln yuan in
the previous year, as revenue from marketed products increases
and research and development expenses decrease 
    ** The Hang Seng Commerce & Industry Index  .HSNC  drops
2.4% and the healthcare index  .HSCIH  falls 1.1%
    ** The Hang Seng Composite Index  .HSCI  and the Hang Seng
Index  .HSI  both jump 2.1%
    ($1 = 6.7465 Chinese yuan renminbi)
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))